Palestine: Arafat’s former aide faces embezzlement charges

16 May 2012. Mohammed Rashid, former financial adviser to the late Yasser Arafat, is suspected of transferring millions of dollars out of the Palestinian Investment Fund and setting up fake companies.

Palestinian Authority established its Anti-Corruption Commission and a special court two years ago to deal with corruption cases.
The Palestinian foreign and justice ministries have asked several countries to extradite Rashid and freeze his assets. Rashid left the Palestinian territories after Arafat’s death in 2004 and is moving between countries and his current whereabouts are unknown. But Arab satellite TV station al-Arabiya has been broadcasting a series of interviews with him since last week.

Rashid became Arafat’s top financial adviser in 1994. Arafat lived frugally but he allowed money to be spent without supervision. This was his way of ensuring loyalty.

Rafik Natche, the chief of Anti-Corruption Commission said that the charges against Rashid were filed 10 days ago.